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Housing Supply crisis

If you are looking to buy a home in 2016 it is without doubt a difficult time but it is not impossible. According to the National Association of Estate Agents there are 10 buyers for each property for sale in the UK. “It’s very normal at this time of year that demand is high and supply is low. House hunters hoping to find their dream property in the New Year have registered interest with agents, whilst those hoping to sell are holding off putting their properties on the market before January. However, demand is outweighing supply so heavily now that it can’t solely be attributed to seasonality,’ said Mark Hayward, NAEA managing director.

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After a promising period from July to October in which the number of sales made to first time buyers grew, in November the percentage of sales made to the group fell by 10%, showed the NAEA report. ‘The Government has made efforts to address the issue of supply and demand, with Osborne outlining plans to build 200,000 new starter homes in his Autumn Statement, but four fifths of our agents think it simply isn’t enough. It’s all very well planning to build houses, but we need to move to action and get and the bricks and mortar on the ground, if we’re to solve the crisis we’re faced with,’ says Hayward.

If you are working hard on finding a property that you can make your home being able to move quickly is vital so lining up the right mortgage to enable that purchase to go ahead is vital.  Enable’s Independent Financial Advisors are here to help you find the best possible mortgage to suite your circumstances.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Source: Property Wire

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 – Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.

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